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Cobalt‐doped semi‐insulating InP layers grown by low‐pressure metalorganic chemical vapor deposition (LPMOCVD) have been used for the first time as a current blocking layer for 1.3 μm InGaAsP buried crescent lasers. Lasers with this cobalt‐doped InP blocking layer have cw threshold currents as low as 8 mA at room temperature. This is the lowest cw threshold current yet reported for an InGaAsP laser with a semi‐insulating current blocking layer. In addition, the lasers exhibit total differential quantum efficiency of 60%, high‐temperature operation up to 100 °C, high output power of 30 mW/facet, and a 3‐dB modulation bandwidth of 11.6 GHz. These results indicate that the cobalt‐doped semi‐insulating InP layer grown by LPMOCVD provides effective current blocking for high‐performance lasers.